Clients insisting on going against their adviser's recommendations should be asked to put their instructions in writing to show they are aware of the risks, a compliance officer at support services provider SimplyBiz has suggested.
Advisers often bemoan the regulator for failing to tell them what it wants. But in the first half-year its technical specialist and all-round public face of the FCA, Rory Percival, has tackled at least six key issues. Do you really want to hear from him...
The Financial Conduct Authority (FCA) has highlighted shortcomings in the way some advisers have handled 'insistent' clients in the past, as examples of what today's advisers should steer clear of.
Advisers are once again being lined up to take the blame
The Financial Conduct Authority (FCA) has published a paper clarifying its stance on how advisers will be held liable when dealing with insistent clients.
Advisers should follow a simple three-step process when dealing with 'insistent' clients which will put them in a strong position should any future problems arise, Rory Percival has said.